Deals15 Oct 2026, 08:10 pm
Prestige Estates Consummates First Tranche of Hospitality Deal
AI Summary
Prestige Estates Projects Ltd has completed the first tranche of its hospitality portfolio transaction with CPPIB. CPPIB acquired a 10% stake in Prestige Hospitality Ventures Limited (PHVL) from Prestige Estates for ₹950 Crores and an additional 5.79% through Series A preference shares for ₹550 Crores. This marks a significant step in the strategic partnership aimed at developing the hospitality portfolio. Further tranches are expected to follow as per the earlier agreements.
Key Highlights
- First tranche of hospitality portfolio transaction completed.
- CPPIB invested ₹1,500 Crores in PHVL.
- Transaction involves equity acquisition and preference shares.
- Further tranches of the deal are anticipated.
Price Impact
More from PRESTIGE